FOAM Price

About the Coin

FOAM is an open protocol designed to provide proof of location on the Ethereum blockchain. Its mission is to create a consensus-driven map of the world, enabling a fully decentralized web3 economy with verifiable location data. The protocol incentivizes the infrastructure necessary for privacy-preserving and fraud-proof location verification.

Main Features

FOAM's primary feature is its static proof of location, where a community of Cartographers curates geographic Points of Interest (POIs) on the FOAM map. This community-driven effort aims to establish a dynamic proof of location protocol, allowing a permissionless and privacy-preserving network of radio beacons. This network is independent of external centralized sources and provides secure location verification services.

How It Works

FOAM Token functionality includes adding and curating geographic POIs, signaling for zone incentivization, and contributing to secure location services. Cartographers can participate in interactive TCR POIs on a map, validate new candidates, and verify the map by visiting real-world locations. The FOAM Token Curated Registry allows secure and permissionless mapping, with locations ranked and maintained by token balances. Cartographers can also stake FOAM Tokens to Signal, incentivizing the expansion and geographic coverage of the FOAM network. The protocol may allow users to provide work and secure localization services, rewarding them with new FOAM Tokens as mining rewards. The Dynamic Proof of Location concept involves a time synchronization protocol, ensuring continuity of a distributed clock, with specialized hardware synchronizing nodes' clocks over radio to provide location services.